Check My Work av. Remember there are three different areas of inventory. Materials. Work in Process and Finished Goods 2. Prepare the May journal entry for the Casting Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank. Work in Process Casting Department 49,600 Wages Payable Factory Overhead Fredad Check My Work 22. Remember that a Work in Process account accumulates all costs (Direct Materials, Direct Labor. Manufacturing Overhead) that are added to the units in a given department What types of costs are considered conversion costs? a3. Prepare the May journal entry for the Casting Department for the completed production transferred to the Machining Department. If an amount box does not require an entry, leave it blank. Work in Process Machining Department Work in Process-Casting Department Previous Next > Check My Work Submit Assignment for Grading Email Instructor Save and Ele All work saved. 11-29 AM A94 311/2020 O eBook Calculator Cost of Production and Journal Entries AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 230 pounds of alloy in process, which were 60% complete as to conversion. The Work in Process balance for these 230 pounds was $32,844, determined as follows: Direct materials (230 x $132) Conversion (230 x 60% x $18) $30,360 2,484 $32,844 During May, the Casting Department was charged $350,000 for 2,500 pounds of alloy and $19,840 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 2,530 pounds of finished castings to the Machining Department. The May 31 inventory in process was 44% complete as to conversion al. Prepare the May Journal entry for the Casting Department for the materials charged to production. If an amount box does not require an entry, leave it blank. Work in Process-Casting Department 350,000 350.000 Materials.Alloy a1. Remember there are three different areas of inventory. Materials, Work in Process, and Finished Goods a2. Prepare the May Journal entry for the Casting Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank. 49,600 Work in Process Casting Department 19,040 Wages Payable 29.760 Check My Work av. Remember there are three different areas of inventory. Materials. Work in Process and Finished Goods 2. Prepare the May journal entry for the Casting Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank. Work in Process Casting Department 49,600 Wages Payable Factory Overhead Fredad Check My Work 22. Remember that a Work in Process account accumulates all costs (Direct Materials, Direct Labor. Manufacturing Overhead) that are added to the units in a given department What types of costs are considered conversion costs? a3. Prepare the May journal entry for the Casting Department for the completed production transferred to the Machining Department. If an amount box does not require an entry, leave it blank. Work in Process Machining Department Work in Process-Casting Department Previous Next > Check My Work Submit Assignment for Grading Email Instructor Save and Ele All work saved. 11-29 AM A94 311/2020 O eBook Calculator Cost of Production and Journal Entries AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 230 pounds of alloy in process, which were 60% complete as to conversion. The Work in Process balance for these 230 pounds was $32,844, determined as follows: Direct materials (230 x $132) Conversion (230 x 60% x $18) $30,360 2,484 $32,844 During May, the Casting Department was charged $350,000 for 2,500 pounds of alloy and $19,840 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 2,530 pounds of finished castings to the Machining Department. The May 31 inventory in process was 44% complete as to conversion al. Prepare the May Journal entry for the Casting Department for the materials charged to production. If an amount box does not require an entry, leave it blank. Work in Process-Casting Department 350,000 350.000 Materials.Alloy a1. Remember there are three different areas of inventory. Materials, Work in Process, and Finished Goods a2. Prepare the May Journal entry for the Casting Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank. 49,600 Work in Process Casting Department 19,040 Wages Payable 29.760